Braskem S.A. (NYSE:BAK) Q1 2023 Earnings Conference Call May 9, 2023 10:00 AM ET

Company Participants

Rosana Avolio - Investor Relations, Strategic Planning and Corporate Market Intelligence Director

Roberto Simoes - Chief Executive Officer

Pedro Freitas - Chief Financial Officer

Conference Call Participants

Pedro Soares - BTG Pactual

Vicente Falanga - Bradesco BBI

Bruno Montanari - Morgan Stanley

Gabriel Barra - Citibank

Luiz Carvalho - UBS

Leonardo Marcondes - Bank of America Merrill Lynch

Operator

Good morning. Thanks for waiting. Welcome to the Braskem Video Conference to present our Earnings Results for the First Quarter of 2023. Today, we have Mr. [Roberto Bishop] (Roberto Simoes), CEO of Braskem; Pedro Freitas, CFO of Braskem, and Rosana, Investor Relations Director.

Please note that this event is being recorded. All participants will only hear the Braskem teleconference. Next, we will begin the Q&A session and we would like to take any questions you may have. If you have any issues or requests for assistance, please request assistance using the button here on this call. This event is also being broadcast live online through webcast and can be connected through www.braskem.com/ri. You will also find our presentation there.

The slide deck is under your control. The audio will be available shortly after the event is concluded. Those following the presentation via the webcast may post their questions to the Braskem website. They will be answered by the IR team after the conference is finished.

We'd also like to mention that any comments that may be made during this teleconference with regard to financial results, projections, or any other opinions, are only considered as projections. These results always pertain to uncertainty and there is always risk that is possible. Please be aware that macroeconomic conditions, industry conditions and other factors can also cause results to differ materially from those expressed in such forward-looking statement.

Now, I'd like to turn the conference over to missus Rosana Avolio, Investor Relations, Strategic Planning and Corporate Market Intelligence Director. Mrs. Avolio, you may begin your presentation.

Rosana Avolio

Good morning. Ladies and gentlemen, and thank you for participating in Braskem’s results conference call. Today, we’ll present the results for the first quarter of 2023.

Moving on to slide number three. I will comment on the company's main highlights in the period. In the first quarter of 2023 Braskem reported recurring EBITDA of $205 million and net profit of $184 million and a cash consumption of $261 million. Regarding the financial highlights, Braskem continue to present solid credit metrics with a very long debt profile in a stronger liquidity position, which guarantees the coverage of debt maturities in the next six years.